Paluck Technologies IPO
smelistedAbout the company
Paluck Technologies operates as a diversified organisation for engineering services and infrastructure support business having operations in Automobile & Engineering Services, Logistics & Equipment Rental and Telecom Engineering Services segments. Incorporated in 2010, the company’s business strategy is driven by OEM collaborations, geographic presence and diversified business segments. Major business operations include telecom infrastructure installation and maintenance services, automobile and commercial vehicles servicing, generator servicing and emissions control services, concrete transportation and equipment rental services and logistics operations and fleet management. The firm maintains a large fleet for construction equipment rental and logistics. The fleet includes 92 transit mixers, 13 concrete pumps and 23 logistics trucks, and the firm maintains a total owned fleet of more than 190 specialised vehicles. The firm has entered into yearly contracts with leading telecom OEMs and has handled more than 7,500 telecom sites in India. For the year 11MFY26, the Automobile & Engineering Services division has generated ₹53.55 crore, constituting 51% of total revenues, whereas the Logistics & Equipment Rental Services division has accounted for ₹51.45 crore, constituting 49% of total revenues. In FY25, the percentage contribution from both divisions is 45.5% and 54.4%, respectively, suggesting a fairly balanced revenue profile from both segments. Haryana is the largest market in geographic terms, making up 54.4% of the revenue for 11MFY26, followed by Uttar Pradesh, making up 9.4% of the revenue, Delhi with 6.7%, Tamil Nadu with 5.4% and Uttarakhand with 5.1%.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 01 Sep | ₹30 | ₹78 | -1 |
| 31 Aug | ₹31 | ₹79 | -2 |
| 30 Aug | ₹33 | ₹81 | +1 |
| 29 Aug | ₹32 | ₹80 | +1 |
| 28 Aug | ₹31 | ₹79 | 0 |
| 27 Aug | ₹31 | ₹79 | 0 |
| 26 Aug | ₹31 | ₹79 | 0 |
| 25 Aug | ₹31 | ₹79 | 0 |
Strengths
- Diversified Business Model: The company operates across automobile and engineering services, logistics and equipment rental, and telecom engineering, reducing dependence on a single business segment.
- Large Specialized Fleet: It operates a sizeable fleet of construction and logistics equipment, including transit mixers, concrete pumps and logistics vehicles.
- Strong Telecom Presence: The company has experience in telecom network implementation, expansion, upgrades and maintenance for major telecom operators and OEMs.
- Established OEM Relationships: Authorised service centres and dealership relationships with established equipment and vehicle manufacturers provide business credibility and recurring service opportunities.
- Experienced Management: The core management team has remained stable for more than a decade, supporting continuity in operations and project execution.
Risks
- Customer Concentration: A significant portion of revenue comes from a limited group of customers, making the company vulnerable to loss of major contracts or reduced orders.
- Past Loan Repayment Delays: The company has reported delays in servicing certain loans, which could affect its credit profile and future financing ability.
- Legal Proceedings: The company faces ongoing legal and criminal proceedings, creating potential financial, reputational and operational risks.
- Working Capital Intensive: Equipment rental, logistics and engineering activities require substantial working capital, which can put pressure on cash flows.
- Infrastructure Cycle Risk: Business performance is closely linked to construction and infrastructure activity, which can weaken during economic slowdowns or reduced project spending.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed28 Aug 2026Bidding starts for all investor categories
IPO Closes
Completed01 Sept 2026Last day to place your bid
Basis of Allotment
Completed03 Sept 2026Share allotment finalised
Refund Initiation
Completed04 Sept 2026Refunds credited for non-allottees
Credit to Demat
Completed05 Sept 2026Allotted shares credited to demat account
Listing on Exchange
Completed04 Sept 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 3000 | ₹144,000 | 1 | ₹144,000 | 1 lot only |
| HNI | 2 | 6000 | ₹288,000 | 2 | ₹288,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 3,510,639 | 16.5 | 36,826,603 | 10.49x | 9.5% |
| NII | 15% | 1,053,192 | 4.95 | 6,150,641 | 5.84x | 17.1% |
| Retail | 35% | 2,457,447 | 11.55 | 13,982,873 | 5.69x | 17.6% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
Date-wise daily subscription (all categories)
| Date / Day | Retail (x) | QIB (x) | NII (x) | EMP (x) | OTHER (x) | Total (x) | Total |
|---|---|---|---|---|---|---|---|
28 Aug Day 1 | 0.78x | 1.64x | 0.92x | 0.00x | 0.00x | 1.04x | 4.38x |
29 Aug Day 2 | 3.43x | 6.48x | 3.57x | 0.00x | 0.00x | 4.02x | 17.50x |
30 Aug Day 3 | 4.80x | 7.85x | 4.45x | 0.00x | 0.00x | 5.05x | 22.15x |
31 Aug Day 4 | 5.69x | 10.49x | 5.70x | 0.00x | 0.00x | 7.31x | 29.19x |
01 Sep Day 5 | 5.69x | 10.49x | 5.84x | 0.00x | 0.00x | 7.31x | 29.33x |
Date-wise cumulative subscription figures per category, refreshed each bidding day.